Thread: Iraq/Dinar News. before Febuary 2nd 2006

thats a good point and i agree with u but someone needs to tell the kurds that.

I just posted this on the "Raising the Dinar" thread and thought I'd put it in here also....I found it very interesting in light of the 1000:1 talk we have been hearing lately......

I found this in Our History Thread, orginally posted by "keegle" on July 6th,2006....Does this sound familar to anyone? Hmmmm?

Updated: 1:36 p.m. ET July 6, 2006

BAGHDAD - Iraq is considering redenominating the dinar, printing new banknotes to remove inflation-generated zeros from its currency, the finance minister said on Thursday.

Senior government and central bank officials have told Reuters the proposal has been under consideration for some time to make one new dinar equal to 1,000 current dinars, a move that would bring the currency closer to parity with the U.S. dollar.

http://www.msnbc.msn.com/id/13738902/

(Sorry the above link is no longer available)

Cheers!
DayDream

Originally Posted by DayDream

I just posted this on the "Raising the Dinar" thread and thought I'd put it in here also....I found it very interesting in light of the 1000:1 talk we have been hearing lately......

I found this in Our History Thread, orginally posted by "keegle" on July 6th,2006....Does this sound familar to anyone? Hmmmm?

Updated: 1:36 p.m. ET July 6, 2006

BAGHDAD - Iraq is considering redenominating the dinar, printing new banknotes to remove inflation-generated zeros from its currency, the finance minister said on Thursday.

Senior government and central bank officials have told Reuters the proposal has been under consideration for some time to make one new dinar equal to 1,000 current dinars, a move that would bring the currency closer to parity with the U.S. dollar.

http://www.msnbc.msn.com/id/13738902/

(Sorry the above link is no longer available)

Cheers!
DayDream

what it means for us. Anyone have an idea?

Originally Posted by RetMil

what it means for us. Anyone have an idea?

I think it means that when the lower denoms are issued a 1 dinar note will be given the same value as the 1000 dinar note, and the 1000 will be worth that much more again. JMHO, but we have said the lower denoms are one of the keys to this whole thing.

Gloribee

[QUOTE=CapeK;161818]It is not the exchange that is subjected to a tax, but the capital gain on the currency that is taxable. Whether you have held the dinar for a year or more may greatly reduce the tax rate you pay on that gain. The burden of proof is on you so hang on to all receipts.

CapeK[/QUOTe

From my understanding of the situation as well, it also is contingent upon your tax status now (what income bracket you rank). Once again this is something that I read from a capital gains website. I or it could be wrong.

The 1000 is now worth about .77 correct?

Originally Posted by goldraker

The 1000 is now worth about .77 correct?

Give or take a little yes. I know this is an old article, and I THOUGHT this had been shot down, but if one new denominated dinar is equal to 1000 current dinar, and that brings it close to parity with the dollar (and I would say .77 is close) that does smell of a L@.... I hat seeing stuff like that come again, makes me feel ill.

Originally Posted by jsfletcher

Give or take a little yes. I know this is an old article, and I THOUGHT this had been shot down, but if one new denominated dinar is equal to 1000 current dinar, and that brings it close to parity with the dollar (and I would say .77 is close) that does smell of a L@.... I hat seeing stuff like that come again, makes me feel ill.

No I believe that a 1 dinar note will take over the current value of a 1000 note, and it (1000) will Increase in value by 1000, as in moving the decimal place 3 spots to the left. Just my read, but what the heck do I know...lol, them Iraqi's are driving me crazy.

Gloribee

Originally Posted by Gloribee

No I believe that a 1 dinar note will take over the current value of a 1000 note, and it (1000) will Increase in value by 1000, as in moving the decimal place 3 spots to the left. Just my read, but what the heck do I know...lol, them Iraqi's are driving me crazy.

Gloribee

I hear ya GB, but when I read the other articles DD posted in the other thread (same subject, only a few days apart) I get the impression that they are talking about the VALUE and not the NOTE at all

Originally Posted by Inscrutable

LOL @ neno. I just noticed how you slipped the dinar picture in there with the rest.

Just look at this Link, Stack is to big to load.
http://www.ssb9.net/users/38179/stacks_of_dinar.jpg

Notice there are no 25k's